Thursday, April 26, 2007
Sunday, April 8, 2007
2. The countries which allow those activities have more things included in their GDP, therefore their GDP will seem relatively higher than that of the countries which do not count it.
3. don't know
4. A) in
5. By putting a monetary value on the quality of the time. No clue how to measure though
Monday, March 19, 2007
This article talks about the unemployment rates of
Monday, March 12, 2007
Not sure how to upload graphs, but i do have them on my computer.
Because of the increase in number of factories in china, the effects on third parties such as
This is a result from over allocation of resources towards the products which produce the pollution. Therefore this is a market failure of the Chinese market. A market failure occurs when firms do not allocate their resources most efficiently. The externalities of the production of products such as the computer chips mentioned in the article, cause serious harm to the Korean society even though they had nothing to do with the production of these Chinese products. The social cost of these storms befalls the Korean people. The entire daily life of many people is disturbed when the storms hit, schools are closed down and people are advised to stay indoors. The storms not only disrupt social lives, but they also kill approximately 165 people per year and cause illnesses in over 1, 8 million people. But there is still more damage, the Korea Environment institute estimates that the storms annually cause between 4.2 trillion won to 5.5 trillion won ($4.47 billion to $5.86 billion).
The computer chips and other polluting goods that are produced in
To decrease these social costs, the Chinese government is trying to contain desertification in
If the government taxes the firms more for pollution, this will make it more expensive for firms to pollute. Therefore in order to keep their costs low, they will pollute less, which in turn will decrease the toxicity of the storms. Leading to an immense decrease in the damage done by the storms to the health of people affected. The government however can also use other methods to control pollution output. They can sell trade able permits to firms to restrict their totall output. Permits can allow the company that owns it to pollute a certain amount. If the firm wants to pollute more, it can buy more permits. But also if they want to pollute less, they can sell their permits and make profits.
Sunday, March 11, 2007
The demand for ethanol has increased dramatically because it is increasingly mixed with gasoline to decrease the negative externalities which occur from burning fossil fuels; such as global warming. Last year twenty per cent of the ethanol plants such as corn have been used as fuel, however it is predicted that this year 25% will be used. Such a high demand for ethanol has increased the prices of corn from is $3.20 a bushel, up from $2 last year.
To grow life stock, these same ethanol plants are used, therefore as the cost of corn increases the price of feeding live stock goes up too. The high prices of corn have decreased themeat and poultry production, because it is now much more expensive to raise cattle. There has been a 40% increase in the price of keeping and feeding chickens since last year.
Therefore the negative externalities such as global warming due to consumption of fossil fuels will decrease, however other negative externalities will increase.
Tuesday, March 6, 2007